Manufacturing & Construction

Tunnel Boring Machine Market

By Segment, By Region, And Segment Forecasts, 2018 – 2025

Vertical: PCMBase Year: 201811 Sections

Executive Summary

Tunnel Boring Machine Market — Snapshot

  • Market Size (2018)

    2018

    $5.24B

  • Projected (2025)

    2025

    $7.65B

  • CAGR (2018–2025)

    5.6%

    5.6%
  • Key Players

    106+

Rising investments in the construction sector for urban transportation along with increasing penetration of tunnel boring machines and product innovations will spur the market growth. The global tunnel boring machine market has been segmented based on machine type, geology type, and end users.

On the basis of machine type, the global market has been segmented into slurry TBM, earth pressure balance shield TBM, shielded TBM, multi-Mode TBM, and other machines. In 2018, the slurry TBM segment accounted for the largest market share of 32.7%, with a market value of USD 1,713.54 million. It is projected to register 6.0% CAGR during the projected timeframe.

On the basis of geology type, the global market has been segmented into soft ground, hard rock ground, heterogeneous ground, and variable ground. In 2018, the soft ground accounted for a considerable market share of 38.3%, with a market value of USD 2,003.98 million. It is projected to register 4.9% CAGR over the forecast period.

On the basis of end users, the global market has been segmented into road transport, railway transport, utilities, metro and transit, mining, oil and gas, and others. In 2018, the road transport segment accounted for a substantial market share of 31.7%, with a market value of USD 1,667.22 million. It is projected to exhibit 5.9% CAGR during the study timeframe.

On the basis of region, in 2018, Asia Pacific accounted for the largest market share of 35.5% with a market value of USD 1,857.43 million. It is projected to register 7.4% CAGR over the projected period.

Key Insight

The Tunnel Boring Machine Market market is projected to grow at a CAGR of 5.6% from 2018 to 2025.

Market Performance Trend

Historical performance and future projections (2020–2030, USD Billion)

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Market Scope & Coverage

What this report covers

  • Geographic Coverage: This analysis covers 5 regions: Asia Pacific, South America, Europe, North America, Middle East and Africa.
  • Market Segmentation: The market is analyzed across 5 segments: Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, Other Machines. Forecasts are provided for each segment from 2018 to 2025.
  • Competitive Landscape: 106 leading companies are profiled, covering market positioning, strategies, and recent developments.

Market Size (USD Mn)

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Market Overview

Tunnel Boring Machine Market — Growth Trajectory

Tunnel boring machines (TBMs) are massive specific-function machines, mainly used in creating tunnels for railways, roads, and pipelines. These gigantic machines are lengthy with circular cross-sections and assist in boring round holes irrespective of any soil and rocks. Tunnel boring machines are complicated assemblies of numerous systems working in combination with each other. Tunnel boring machines' diameter ranges from 3 feet to 65 feet. Moreover, TBMs are effective for catering smooth cut and finishing though rocks, along with constructing concrete shields around the bored tunnels.

Tunnel Boring Machine Market — Growth Trajectory

Slurry TBM
Earth Pressure Balance Shield TBM

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Market Size Trend (USD Mn)

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Market Dimensions

How this market is segmented

  • Machine Type Machine Type is broken down into: Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, Other Machines.
  • Geology Type Geology Type is broken down into: Soft Ground, Hard Rock Ground, Hetrogeneous Ground, Variable Ground.
  • End-User End-User is broken down into: Road Transport, Railway Transport, Utilities, Metro & Transit, Mining, Oil & Gas, Others.

Geographic Analysis

Regional market breakdown

  • Asia Pacific Asia Pacific market size reached $1.86B in 2018 and is projected to reach $3.06B by 2025, growing at a CAGR of 7.4%.
  • South America South America market size reached $466.24M in 2018 and is projected to reach $730.36M by 2025, growing at a CAGR of 6.6%.
  • Europe Europe market size reached $1.50B in 2018 and is projected to reach $2.02B by 2025, growing at a CAGR of 4.3%.
  • North America North America market size reached $1.29B in 2018 and is projected to reach $1.67B by 2025, growing at a CAGR of 3.8%.
  • Middle East and Africa Middle East and Africa market size reached $125.58M in 2018 and is projected to reach $182.14M by 2025, growing at a CAGR of 5.5%.

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Research Methodology

Tunnel Boring Machine Market — How We Researched This Market

This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.

  • Base Year

    2018

  • Historical Period

    2018 – 2018

  • Forecast Period

    2018 – 2025

  • Primary Interviews

    150+

Research Process

Historical data (2018–2018) and forecast period (2018–2025)

1

Problem Definition

  • Market scoping
  • Objective setting
  • Framework design
2

Secondary Research

  • Literature review
  • Data mining
  • Trend analysis
3

Primary Research

  • Expert interviews
  • Field visits
  • Surveys
4

Data Analysis

  • Quantitative modeling
  • Statistical testing
  • Validation
5

Insights & Reporting

  • Synthesis
  • Recommendations
  • Visualization

Research Depth

Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.

Historical vs. Forecast Data

Historical (observed)
Forecast (modelled)

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Competitive Landscape & Porter's Five Forces

Tunnel Boring Machine Market — Competitive Analysis

Michael Porter’s Five Forces model is a framework to study the global tunnel boring machines market. Strategic business managers, trying to gain an edge over competitive firms in the global tunnel boring machines market, can utilize this model to better comprehend the industry in which the company operates. The components of each of the forces and the degree of impact of each component in the context of the global tunnel boring machines market have been broken down and analyzed.1.1.1 Threat of New Entrants

The threat of new entrants signifies the impact of new players trying to enter the market. The development of tunnel boring machines involves high technical expertise, along with the high capital requirements, which increases the barriers for the new entrants in the market. The end users rely on large tunnel boring machines manufacturing companies with strong brand recognition, which makes it difficult for the new players to compete with the established players, such as China Railway Engineering Equipment Group Co., Ltd, Dalian Huarui Heavy Industry Group Co., Ltd, and Herrenknecht AG, Komatsu Ltd, who dominate the industry and maintain a substantial market share. However, there are a moderate number of market players available for tunnel boring machines, which has opened-up paths for new entrants. Moreover, the new entrants will require strong strategic partnerships with tech giants to offer the best-in-class tunnel boring machines. Thus, the threat of new entrants in the global tunnel boring machines market is expected to be moderate.

1.1.2 Bargaining Power of Suppliers

The suppliers are the providers of components, such as cutter head, cutting discs/tools, muck buckets, bracing system, ground support equipment, and steeling system. The concentration of suppliers is moderate, which leads to the moderate bargaining power of suppliers. However, the high cost of switching between suppliers due to the long-term contracts between them and the tunnel boring machines manufacturers increases the bargaining power of suppliers. Hence, the bargaining power of suppliers is expected to be moderate.

1.1.3 Bargaining Power of Buyers

The market for tunnel boring machines has a high concentration of buyers from industries, such as construction, mining, and tunneling, which decreases their bargaining power. However, the buyers rely only on the successful and established companies for purchasing tunnel boring machines. Thus, brand recognition has a high impact on the buying decision of the buyers, which further reduces their bargaining power. The switching cost incurred by these buyers will be moderate due to the presence of various OEMs and the contracts between them and the buyers. Therefore, the bargaining power of buyers in the North America tunnel boring machines market is expected to be low

1.1.4 Threat of Substitutes

Although the tunnel boring machines do not have any direct substitute, however conventional draft and blasting systems are used as their alternative for different application in developing and underdeveloped regions. Thus, the threat of substitutes is expected to be moderate in the global tunnel boring machines market.

1.1.5 Rivalry

Currently, there is a low to moderate competition among the existing players in the tunnel boring machines market owing to the presence of a smaller number of market players. The manufacturers focus more on new technologies in cutter design, machine components, and hydraulic and electrical systems. The increased use of computer and electronic controls have resulted in the high demand for the tunnel boring machines.

There are many known market players, such as China Railway Engineering Equipment Group Co., Ltd, Dalian Huarui Heavy Industry Group Co., Ltd, and Herrenknecht AG, Komatsu Ltd, who have ventured into the industry through partnerships and collaborations. These companies involved in the development of these systems differentiate their products by integrating additional or unique features in the tunnel boring machines. Thus, the intensity of competitive rivalry is expected to be high during the forecast period.

Quantitative Analysis

Regional Breakdown

Regional market breakdown for Tunnel Boring Machine Market.

Regional Market Size (USD Mn)

Market estimates by geography (2025)

USD Mn

InsightAsia Pacific leads with $3.06B by 2025.

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Regional Market Data

REGION201820182025CAGRSHARE
Asia Pacific$1.86B$2.46B$3.06B7.4%40%
South America$466.24M$601.68M$730.36M6.6%10%
Europe$1.50B$1.78B$2.02B4.3%26%
North America$1.29B$1.49B$1.67B3.8%22%
Middle East and Africa$125.58M$155.15M$182.14M5.5%2%
Total$5.24B$6.49B$7.65B5.6%100%

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Segment Revenue (2025)

Slurry TBM
Earth Pressure Balance Shield TBM
Shielded TBM
Multi-Mode TBM
Other Machines
0711142221332844

Segment Market Share

  • Slurry TBM34%
  • Earth Pressure Balance Shield TBM25%
  • Shielded TBM22%
  • Multi-Mode TBM16%
  • Other Machines4%

Total Market Size

$7.65B

Market by Segment (2025)

APPLICATIONREVENUE ($B)GROWTH RATEMARKET PENETRATION
Slurry TBM$2.58B5.6%
67%
Earth Pressure Balance Shield TBM$1.88B5.6%
89%
Shielded TBM$1.67B5.6%
66%
Multi-Mode TBM$1.24B5.6%
89%
Other Machines$276.17M5.6%
89%

* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.

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Analytics

Tunnel Boring Machine Market — Key Findings

Analytical insights on Tunnel Boring Machine Market covering market dynamics, competitive landscape, and strategic outlook.

Key Analytical Findings

The Tunnel Boring Machine Market market is projected to reach $7.65B by 2025, growing at 5.6% CAGR. The Slurry TBM segment holds the largest share.

Market Dynamics

The global tunnel boring machine market is a dynamic market and is expected to witness high growth in the coming years years. The demand for tunnel boring machine is poised to be driven by the Growing Investments For Urban Transportation and the growing adoption of tunnel boring machines in mining and construction industry. However, the lack of skilled labor and slower growth of construction sector might hinder the market growth of the global tunnel boring machine

Market Drivers

The global demand for urban transportation is growing rapidly. Going with present trends, passenger and freight activity will more than double by the end of 2050. Growing urbanization created a demand for urban rail transport. Metros are a primary mode of urbanized transport. During 2017, there were metros in more than 178 cities in 56 countries, carrying on average a total of 168 million passengers per day. Since 2000, 75 new metros have opened. This massive growth is to be credited mainly to developments in the Asia-Pacific region. Authorities in regions, such as North America and Europe, have increased investments in private construction, especially in The US and the UK. According to The US Census Bureau, in 2017, the total construction expenditure in The US increased by approximately 4% than the previous year. In 2017, the value of the construction industry in The US was USD 1,246,000 million, which increased and reached USD 1,293,982 million in 2018. Therefore, the growing investments in the construction industry add to the growth of the tunneling equipment market, leading to the growth of the tunnel boring machines market. The table below depicts the annual value of construction in The US between 2012 and 2018.

Furthermore, many countries, for promoting the growth of tourism, focus on constructing specialty infrastructure, which is expected to add to the market growth. Tunnel boring machines have witnessed high demand, especially in the construction of metro rail and road projects. Additionally, an increase in construction and infrastructural projects, such as bridges, roads, dams, and airports and real-estate, mainly in developing countries, is expected to drive the growth of the construction industry, further raising the demand for tunnel boring machines.

The favorable growth trend and several government measures have led to the growth in investments in construction, especially in Asia-Pacific and other developing nations. There has been an increase in foreign direct investment (FDI) inflow in the construction industry, mainly in India. For instance, according to Invest India, 100% FDI under the automatic route is permitted in completed projects for townships, malls/shopping complexes, and business construction operations and management. Moreover, 100% FDI under the automatic route is permitted for urban infrastructures, such as urban transport, water supply and sewerage, and sewage treatment.

According to the Department of Industrial Policy & Promotion (India), Mauritius had the highest FDI equity inflow amount of USD 13,931.99 million in India during the period, 2000–2017. Furthermore, there are a total of 67 metro projects across 27 cities in India, out of which 54 projects are in various stages of development. Such FDI inflows in construction across the globe are expected to result in the growth of the construction industry, further driving the demand for tunnel boring machines.

Market Opportunities

The developing nations play a key role in the growth of the global tunnel boring machines market, with the construction industry contributing primarily to the emerging economies. The maximum growth of the emerging economies is anticipated in the Middle East, Asia-Pacific, and Latin America.

Asia-Pacific is one of the most lucrative of regions in terms of new constructions due to several construction projects set to go underway. Asia-Pacific, with nations, such as India and China, is working on strengthening its urban infrastructure. Government aids and subsidies are expected to attract significant investments in the construction industry, leading to its growth. The focus of such initiatives is on the development of urban infrastructure and services, such as water supply, renovation of bridges and tunnels, urban transport, road network, and inner/old city areas, which is expected to lead to the demand for tunneling equipment. The increase in population and the need for proper transportation compel the governments to make higher investments in road and rail construction and infrastructure. The governments are taking steps by assigning funds to improve urban infrastructure. For instance, the Indian government had set a target of completing 300 highway projects by March 2019.

Construction contractors and property owners are inclined toward The USe of tunnel boring machines due to its various advantages, which is further expected to boost its demand. The increase in per capita income, coupled with the growing infrastructure to support highways and metro rail projects, would also provide growth opportunities for the manufacturers of tunnel boring machines in the Asia-Pacific region. As per IBEF, the Security and Exchange Board of India (SEBI) approved the Real Estate Investment Trust (RETI) platform, which would drive investments in real estate, creating the scope for investments worth ~ USD 19.65 billion in India. Such investments are expected to lead to the growth of the construction industry, resulting in high demand for tunnel boring machines during the forecast period. Therefore, the scope for growth in emerging economies is expected to provide lucrative growth opportunities for the players in the global tunnel boring machines market during the forecast period

Market Restraints

The high number of construction projects across the globe creates a high demand for skilled workers. Globally, the demand has exceeded supply, leading to the reduced availability of workers. The lack of skilled labor increases the risks of contractors leading to project delays. Many developing countries, such as India and China, have a severe shortage of skilled labor because of the migration of skilled workers, an aging workforce, and the lack of training. According to a skill gap report commissioned by National Skill Development Corporation, the building, construction & real estate sector is estimated to require around 31.13 million of additional skilled workforce by 2022. However, the gap between the required workforce and their employability is expected to hamper the construction industry, which would affect the growth of the tunnel boring machines market. The tunnel boring machines market demands highly skilled labor for controlling the operations of equipment, ensuring the proper working of the machines, and conducting tests and inspection of products, services, and processes for evaluating quality.

International Labor Organization (ILO) has been taking many initiatives for the training of workforces. Programs, such as Skills for Trade and Economic Diversification (STED) and Rural Economic Empowerment (TREE) Program, are launched by the ILO for the development of a skilled workforce. Moreover, the ILOs Skills and Employability Program for Asia and the Pacific (SKILLS-AP) was also launched to provide solutions to the skill development issues in Asia-Pacific. Such programs and initiatives are expected to minimize the problems associated with skilled labor during the forecast period. Hence, the impact of lack of skilled labor on the global tunnel boring machines market is expected to shift from high to moderate over the forecast period.

Strategic Outlook and Future Directions

Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.

Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.

Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.

Market Value by Segment (2025)

Value (USD Mn)
Slurry TBM
Earth Pressure Balance Shield TBM
Shielded TBM
Multi-Mode TBM
Other Machines

Companies

Key companies profiled in Tunnel Boring Machine Market

Profiles of 106 companies operating in the Tunnel Boring Machine Market market, including revenue, employee count, and market positioning where available.

Showing 106 of 106 companies

IHI CORP.

IHI CORP.

Manufacturing & Construction

Company Headquarters: Tokyo, Japan Founded: 1853 Workforce: 29,286 Company Working: IHI Corp. engages in the designing, manufacturing, sales, installation, repair, and maintenance of heavy machines. The company’s business operating segments include resources, energy and environment; social infrastructure and offshore facilities; industrial system and general-purpose machinery; aero engine, space and defense; and others. The resources, energy, and environment operating segment comprise boilers, motors for land and marine use, power systems, gas processes for storage facilities and chemical plants, nuclear power, environmental systems, gas engines, and pharmaceutical plants. The industrial system and general-purpose machinery segment cover rotating machinery, logistics systems, materials handling equipment, parking systems, steel manufacturing equipment, industrial machinery, heat and surface treatment equipment, papermaking machinery, vehicular turbochargers, and compressors, construction machinery, and agricultural equipment. The social infrastructure and offshore facility business segment deal with bridges, water gates, steel structures, shield tunneling machines, transportation systems, urban development, and security. The aero-engine, space and defense segment handles aircraft engines, rocket systems, space exploration, and defense systems. The others segment includes inspection and measurement businesses as well as the manufacture and sale of related equipment. The company has its presence in Europe, Asia-Pacific, and the Middle East & Africa.

Revenue$0.0B
Employees29,286
Market CapN/A
Founded1852
Tokyo, Japan
HITACHI ZO

HITACHI ZOSEN CORPORATION

Manufacturing & Construction

Company Headquarters: Osaka, Japan Founded: 1881 Workforce: 10,580 Company Working: Hitachi Zosen Corporation (Hitachi) engages in the design and construction of environmental systems, industrial plants, industrial machinery, process and infrastructure-related equipment, disaster prevention systems, and precision machinery. The company operates through the following segments: environmental systems and industrial plants, machinery, infrastructure, and other businesses. The environmental systems and industrial plants segment deals with environmental protection systems, desalination and potabilization plants, chemical plants, and water treatment systems. The machinery segment involves the production of marine diesel engines, boilers, nuclear equipment, plastic machinery, and food filling and packaging systems. The infrastructure segment includes bridge construction, water gates, and shield tunneling machines. The others segment includes transportation and warehousing businesses. Hitachi’s product portfolio includes equipment related to hydrogen, electronic control, energy, marine, semiconductor, and food and pharmaceutical industries. The company operates in Europe, Asia, the Middle East, and North America.

Revenue$0.0B
Employees10,580
Market CapN/A
Founded1880
Osaka, Japan
BOSCH REXR

BOSCH REXROTH AG

Manufacturing & Construction

Company Headquarters: Germany Founded: 1795 Workforce: ~ 31,000 Company Working: Bosch Rexroth AG is a German multinational company that provides drive and control solutions for industrial and mobile applications, including motors, drives, hydraulics, pneumatics, and electronics. Bosch Rexroth is one of the leading players in the global motors and drives market, with a strong presence in Europe, North America, Asia, and South America. In 2022, with presence in over 80 nations, a workforce exceeding 32,000 employees contributed to sales revenue of approximately 7.0 billion euros. The distribution of associates by region in 2022 is as follows. Bosch Rexroth offers a comprehensive portfolio of products and services for motors and drives, such as synchronous and asynchronous motors, servo and frequency converters, gearboxes, linear motion systems, and software. Bosch Rexroth’s motors and drives are designed to enhance performance, efficiency, and reliability in various applications, such as machine tools, robotics, factory automation, renewable energy, and mobile machinery. Bosch Rexroth is also committed to innovation and sustainability in the motors and drives industry, with a focus on developing digital and eco-friendly solutions. For instance, Bosch Rexroth has launched the ctrlX Automation platform, a modular and scalable system that integrates hardware, software, and cloud services for motors and drives. Bosch Rexroth has also introduced the Sytronix variable-speed pump drive, which reduces energy consumption and noise, and improves dynamics and accuracy in hydraulic systems. Bosch Rexroth is strategically positioned to benefit from the growing demand for motors and drives in emerging markets and the increasing need for smart and green solutions in developed markets. Bosch Rexroth’s motors and drives are trusted by customers worldwide for their quality, durability, and compatibility.

Revenue$0.0B
Employees31,000
Market CapN/A
Founded1794
Germany
KOMATSU LT

KOMATSU LTD

Manufacturing & Construction

Company Headquarters: Tokyo, Japan Founded: 1921 Workforce: ~ 62,774 Company Working: Komatsu Ltd (Komatsu) is an equipment manufacturer company. It develops and sells construction, mining equipment, utilities, forest machines and industrial machinery. Through its manufacturing and technology innovation, it also supplies products, services, and solutions in response to social needs. The company provides construction and mining equipment such as excavating equipment, loading equipment, grading and roadbed preparation equipment, hauling equipment, forestry equipment, tunneling machines, recycling equipment, industrial vehicles, engines and components, casting products, and logistics other equipment. It also offers industrial machinery such as metal forging and stamping presses, sheet metal machines, machine tools, defense systems, and temperature control equipment. Komatsu operates through a domestic and international sales and distribution network. The company has manufacturing plants in the US, Japan, Germany, the UK, Sweden, Canada, Indonesia, Brazil, Italy, China and Thailand.

Revenue$16.4B
Employees62,774
Market CapN/A
Founded1920
Tokyo, Japan
HERRENKNEC

HERRENKNECHT AG

Manufacturing & Construction

Company Headquarters Founded: 1993 Workforce: ~5,000 Company Working: Herrenknecht AG (Herrenknecht) is a technology leader in tunneling systems. The company holds expertise in innovative technology, such as tunneling, mining, exploration, and additional industrial equipment. The tunneling segment includes traffic tunneling and utility tunneling. The company produces lean deep drilling rigs that drill down to a capacity of 8,000 meters and rigs exploration of shallow geothermal energy. Herrenknecht operates in 76 locations across continents.

RevenueN/A
Employees5,000
Market CapN/A
Founded1992
United States, North America
CHINA RAIL

CHINA RAILWAY GROUP LIMITED

Manufacturing & Construction

Company Headquarters: Henan, China Founded: 2008 Workforce: ~1,240 Company Working: China Railway Group Limited (CRGL) designs, manufactures and develops tunnel boring machines for customers across the globe. The company is one of the world’s-leading construction companies in industrial equipment manufacturing, infrastructure construction, scientific research, and consulting. It also operates in real estate development, financial trust, resources development, and other trade activities. CRGL provides business scope covering fields of infrastructures, including highways, railways, municipal facilities, urban rail transits, housing and buildings, hydropower stations, water conservancies, airports, docks, and harbors. CRGL holds one of the leading positions in the design, development, and manufacturing of machinery equipment. The company owns multiple tunnel boring machines, bridge erecting machines, track laying machines, and shield machines in China. The machinery also comprises ship-mounted cranes with high lifting capacity, deep-sea water working equipment, and catenary installation equipment for electrified railways. The company has a track record of building several projects in Asia, Africa, Europe, South America, and the Atlantic. It currently operates in more than 90 countries and regions across the globe

Revenue$79.2B
Employees1,240
Market CapN/A
Founded2007
Henan, China
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About the Author

Manufacturing & Construction Research Team

Manufacturing & Construction

Wantstats' manufacturing and construction analysts wrote this report using primary project data, supplier interviews, and our own proprietary tracking of capacity and demand. Every number here has gone through internal review before publication.

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R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Noah Malgeri

Co-Founder, Mojave Rail Fabrication Limited

This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert

Manager, JavolVision

Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Joseph Aguayo

Sales Operations & Pricing Manager, Intel

Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee

R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu

Strategy & Business Development Director, Dogan Holding

We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Tunnel Boring Machine Market

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